New Grant Opportunities Announced
The Michigan Strategic Fund today approved two grant programs – the Michigan Small Business Survival Grants and the Michigan Stages Survival Grants – totaling $58.5 million in relief to help meet the urgent needs of small businesses and live event venues impacted by the COVID-19 virus.
- Michigan Small Business Survival Grant: A single, statewide application for the program will be live at michiganbusiness.org/survival at 9:00 a.m. EST on Tuesday, January 19 through 12:00 p.m. (noon) EST on Friday, January 22.
- Michigan Stages Survival Grant: Applications will be available at www.michiganbusiness.org/
stages starting at 9:00 a.m. EST on Thursday, January 21- 12:00 p.m. (noon) EST on Thursday, January 28, 2021. - Learn More
Paycheck Protection Program Update
Lenders at certain community financial institutions began accepting Paycheck Protection Program applications for first-draw loans on Monday, January 11 and second-draw loans on Wednesday, January 13.
Thursday the SBA announced that small banks can start processing applications on Friday, January 15 and that all approved lenders–including large banks–are able to begin taking applications on Tuesday, January 19.
Tax Assistance for Certain Businesses
Restaurants that depend on indoor dining and most entertainment and recreational venues scheduled to make sales, use and withholding tax payments for December 2020 and January 2021 or for the last quarter of 2020 can postpone filing and payment requirements until Feb. 20, 2021. The state Treasury Department will waive all penalties and interest for 33 days.
